Mortgages

Mortgages

Regardless of the mortgage you choose, we’ll work hard to provide you with final mortgage approval as quickly as possible. We offer flexible payment and rate options to accommodate unique financing requirements. You’ll also find great flexibility in the assumability and portability of our mortgage options.

We also offer life and disability insurance on our mortgage products to give that extra security.

Bow Valley Credit Union offers a wide range of mortgage options to suit a variety of borrowing situations. Both conventional and Insured High Ratio mortgages are available to help you realize your dream of home ownership.

One of the most attractive features of THE ALBERTA MORTGAGE is its unique 10/10 paydown options. Once annually, monthly payments can be increased by 10%. Once annually, on the regular payment date, a lump sum payment may be made up to 10% of the original mortgage amount. The payment increase or prepayment options are not accumulative.

Construction Financing

Bow Valley Credit Union has unique financing options available to save you money when building. We have two plans: one if you are building your own home and the second if you are building for resale or for investment.

Fixed Rate Open Mortgage

If you are looking for the maximum freedom in a residential mortgage, our Fixed Rate Mortgage plan is the right choice. Few mortgages offer all this flexibility.

Our open mortgage is designed to be as flexible as you need it to be. A fixed interest rate term of one year is offered. In addition to flexibility in payment frequency, the original payment amount may be adjusted upward at any time without fee or penalty so you can pay off your home faster and save significant interest costs.

You may repay your open mortgage in full or in part at any time you wish without notice, bonus or penalty.